Which of the following income statement items is least likely to persist into future periods?
A)Sales revenue.
B)Discontinued operations.
C)Cost of goods sold.

Question

Quizplus · Accepted Answer

Discontinued operations are items that are not expected to continue into the future periods. They are one-time events, such as the sale of a business segment, that will not occur again. Sales revenue and cost of goods sold are both ongoing and are expected to persist into future periods.

Which of the Following Income Statement Items Is Least Likely